During this first stage, 15 out of all the projects received are on the covid-19 track. All teams are made up of undergraduate students who will access entrepreneurial training online through short digital classes until 8 June, when the 70 best projects will be selected to continue competing.

Santiago de Chile, 27 May 2020 .
The training process for the 142 university entrepreneurial teams in the second Ideas X kicks off today. They will receive short audiovisual classes for two weeks with content to help them complete the first stages of their projects and get the chance to continue with this programme for driving university entrepreneurship.

The projects entered include platforms where social entrepreneurs can connect, applications for legal processes, applications for differential education and study tools for psychology students. In addition, there are 15 initiatives in the covid-19 track, with ideas for home office solutions for older adults, the implementation of kits for rapid detection of SARS-CoV-2, ideas for sanitising surroundings, private workspaces that favour social contact, and more.

“We are pleased with participation in the second Ideas X, especially registration of initiatives relating to the health emergency. All of the projects entered are by undergraduates, which shows that there is tremendous potential among the youths in our country. We want to support them in learning to develop their idea from the most basic point right up to turning it into a real enterprise, just like in 2019,” said Rodrigo Machuca, the manager of Santander Universities.

This first stage ends on 25 June, when a jury will select the 70 teams that will go through to the second round. Then, the 43 best initiatives will be chosen to form part of an in-person training process, which will end with a boot camp, where expert mentors will be able to give their feedback to the entrepreneurs.

During the following stage, each team will have to pitch their idea. The 23 best projects will each receive an initial capital of CLP 500,000 to improve their prototypes and will be able to accelerate them through a two-month process with a specialist. At this stage, projects relating to the covid-19 contingency will receive an additional CLP 500,000.

Lastly, the 10 finalist initiatives will be receive a cash prize of CLP 2,500,000, or up to CLP 3,500,000 for projects relating to the contingency. This capital will be used for working on developing the idea. The bank will also provide a monitoring and support programme over the following three months.

In order to protect the health of team participants, Ideas X will develop online alternatives for programme activities, if required by circumstances, ensuring continuity at all stages of the programme.

Banco Santander has a steadfast commitment to education, which is materialised though Santander Universities, an international initiative that sets it apart from other financial institutions. In fact, the bank invests more in supporting education than any other private company in the world (Source: Varkey/UNESCO Fortune 500 Report). More than EUR 1,600 million have been allocated to academic programmes and initiatives since 2002. www.santander.com/universidades.